Commerce changes the fate and genius of nations

                                                                                     – Thomas Gray

No man can be an island. Men are interdependent on one another for their requirements.   These interactions are primarily based on give and take policy, albeit subtly.  Thus fundamentals of commerce span from our daily existence to every industry, discipline and organization. 

Commerce as a stream of study which apparently was dormant until the onset of the globalization has today emerged as the most sought after discipline on par with Science.   The unprecedented growth of the Indian economy has made available many career options in the field. So is the demand for qualified individuals with right aptitude.

Commerce is one of the three diversifications to be taken after ten years of schooling, the other two being science and humanities.  It is the study of trade and business activities with all the factors associated with it. 

The 10+2 or junior college courses in India are offered by many state, national and international boards. A student can pursue the three-year Bachelor of Commerce (B.Com.) and later Master of Commerce (M.Com.). And the interested have the option of continuing with research studies.  The undergraduate and postgraduate education is offered at the University departments and various colleges in the country.

The main subjects that are taught in the Commerce stream in Class 11 and 12 include economics, accountancy and business studies. The courses offer different combinations with subjects like accountancy, economics, mathematics, business finance etc.  Most of the colleges offer subjects like business economics, financial accounting, cost accounting, income tax, business finance, business law etc.

Commerce students can work in the accounts, finance and marketing departments of any organization. The educational background gives them an edge over others in insurance and stock market.  They can pursue different branches of professional studies to become Chartered Accountants, Company Secretary and Cost and Work Accountants.  Many go for MBA also.  Besides, with the commerce background one can opt for any of the professions like commercial lawyer, banker, lecturer, chartered financial analyst, policy analyst, tax auditor, mortgage broker and economist. Options are many and the choice is yours.

Keeping in mind the market demands, the vast field of commerce has been diversified into specializations. The syllabus has been tailor-made to meet the requirements of specific industries. BAF and BBI are among the few specializations offered by the colleges affiliated to the University of Mumbai.

Bachelor of Commerce (Accounting and Finance) BAF: The course provides comprehensive knowledge of the fields related to accounting and finance.  The six-semester study spread across three years includes the subjects like Financial Accounting, Cost Accounting, Economics, Business Environment, Information Technology, Foundation Course, Business Communication, Audit, Tax and Business Law. The course is useful for those who aspire to become Chartered Accountants and Financial Analysts.

Bachelor of Commerce (Banking and Insurance) BBI:  The course aims to prepare the students to exploit the newly created opportunities in banking and insurance sectors in the wake of globalization, privatization and liberalization. The course also exposes them to the ever-evolving technologies in the field. The six-semester three-year programme consists of 38 theory papers and two project works. The syllabus covers the aspects like communication, management, accounting, economics, business and corporate laws, financial market, business ethics, human resource management, auditing etc.

Bachelor of Management Studies (BMS)

Management degrees are actually an offshoot of the commerce education with special emphasis on development of managerial skill. The studies help the students to develop leadership quality and various other skills needed to run an enterprise. Those who know the nitty-gritty of the corporate world can only survive in the competitive world. A management studies course can produce good leaders and managers who are able to adapt to any situation and tackle complex issues in any organization. Gaining management skill opens doors to many challenging opportunities.

The courses are expected to build management and team building capabilities, presentation skills and problem solving capacities. Those who can ingest the skills are going to build a successful career.

Apart from teaching management skills, the degrees also develop entrepreneurship skills as more and more young Indians look forward to be self-employed than working for others. Management skills are used in all the professions be it doctors, lawyers, engineers or any other.  

Most of the universities in India offer three-year undergraduate course in management studies though known by different names. Bachelor of Management Studies is divided into six semesters. The comprehensive syllabus covers the fields of corporate finance, communication, business and industrial laws, economics, strategic planning, marketing and accounting and computer applications besides the mandatory project works.

WISDOM ACADEMY

Mere pass marks in commerce or management streams do not take a candidate anywhere.  For visibility in the job market you have to have good marks and right aptitude. In today’s competitive world every single mark counts. To pass out with flying colours every student needs some outside coaching apart from the teaching in schools/colleges.

We are mainly into home tuitions so as to give individual attention to the student. A student need not waste his/her valuable time shuttling between home and the tuition class, instead the teacher knocks on his/her door at a time convenient to him/her. We also take up group tuition at our Andheri Centre.